Geothermal Technology has Enormous Potential to Power the Planet and Fervo wants to Tap It

Key Points:

  • Cost per megawatt for geothermal power is in the $65-$75 range as compared to solar power which costs approximately $35-$55 per megawatt. However, “the stability and predictability of geothermal power made the cost differential palatable for utilities and businesses that need the assurance of uninterruptible power supplies.”
  • “There are 25 countries today that have geothermal installed and producing with another 25 where geothermal is forecasted to grow”
  • Oil and Gas workers have the skill set needed to transition from drilling for fossil fuels to drilling for geothermal energy